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Company Information

Home » Market » Company Information

Bank of Baroda

May 30, 12:41
176.00 +1.95 (+ 1.12 %)
 
VOLUME : 448075
Prev. Close 174.05
Open Price 174.80
TODAY'S LOW / HIGH
172.05
 
 
 
177.25
Bid PRICE (QTY.) 176.00 (991)
Offer PRICE (Qty.) 176.20 (1677)
52 WK LOW / HIGH
136.00
 
 
 
202.45
May 30, 12:34
176.35 +2.70 (+ 1.55 %)
 
VOLUME : 6972314
Prev. Close 173.65
Open Price 173.30
TODAY'S LOW / HIGH
172.00
 
 
 
177.30
Bid PRICE (QTY.) 176.30 (5687)
Offer PRICE (Qty.) 176.35 (8)
52 WK LOW / HIGH
135.25
 
 
 
202.50
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Market Cap. ( ₹ ) 40744.79 Cr. P/BV 0.96 Book Value ( ₹ ) 183.96
52 Week High/Low ( ₹ ) 203/135 FV/ML 2/1 P/E(X) 22.45
Bookclosure 24/06/2016 EPS ( ₹ ) 7.86 Div Yield (%) 0.68
DIRECTOR'S REPORT
You can view full text of the latest Director's Report for the company.
Year End :2016-03 The Directors have pleasure in presenting the One Hundred and Eighth Annual Report of your Bank with the audited Balance Sheet, Profit & Loss Account and the Report on Business and Operations for the year ended March 31, 2016 (FY16). |

Performance Highlights

Total Business (Deposit Advances) stood at Rs. 9,57,808 crore.

Gross Profit and Net Profit were Rs. 8816 crore and Rs. (5396) crore respectively.

Capital Adequacy Ratio (CAR) as per Basel III stood at 13.17%.

Retail Credit stood at Rs. 50,850 crore constituting 18% of your Bank's Gross Domestic Credit in FY16.

MSME Credit stood at Rs. 54,990 crore constituting 20% of your Bank's Gross Domestic Credit in FY16.

Net Interest Margin (NIM) in global operations was 2.05% and in domestic operations at 2.60% during FY16.

While Gross NPAs to Gross Advances stood at 9.99%, Net NPAs to Net Advances stood at 5.06%.

Net Worth as on 31.03.2016 was at Rs. 30,586 crore.

Book Value per share at Rs. 132.74 as on 31.03.2016.

Business per Employee was Rs. 1680 lac.

Capital Adequacy Ratio (CAR)

Your Bank's Capital Adequacy Ratio (CAR) under Basel

III was comfortable at 13.17% as on 31st March 2016. Tier 1 ratio was at 10.79% and Common Equity Tier 1 (CET-1) was at 10.29% under Basel III framework.

Your Bank's Net Worth as on 31st March 2016 was Rs. 30,586 crore comprising paid-up equity capital of Rs. 462 crore and reserves (excluding revaluation reserves, FCTR & Net of Intangible assets) of Rs. 30,123 crore.

Provisions towards Retirement and Other Benefits

During the year FY16, your Bank made provision towards contribution to gratuity (Rs. 20.56 crore), pension funds (Rs. 3,025.08 crore) which included provision of Rs. 1,563.70 crore on account of shifting of mortality table from LICI 1994- 96 to IALM 2006-08, leave encashment (Rs. 259.37 crore) and additional retirement benefits (Rs. 87.23 crore). Total provisions under these four categories amounted to Rs. 3,392.24 crore during the year FY16. Total corpus available with your Bank at the end of March 2016 under these heads were: Rs. 1,346.55 crore (gratuity), Rs. 11,947.17 crore (pension funds), Rs. 881.23 crore (leave encashment) and Rs. 375.96 crore (additional retirement benefit).

Key Financial Ratios

Particulars                          FY 16            FY 15

Return on Average Assets             (0.78)            0.49
(ROAA) (%)

Average Cost of Funds                 5.08             5.23

Average Yield (%)                     7.09             7.53
Average Interest Earning 6,21,234.89 5,70,592.45

Assets (Rs. crore)

Average Interest Bearing 6,16,002.63 5,69,190.46

Liabilities (Rs. crore)

Net Interest Margin (%)               2.05             2.31

Cost-Income Ratio (%)                50.30            43.63

Book Value per Share (Rs.)          132.74*          166.83*

EPS (Rs.)                           (23.89)*          15.83*
*post split of face value of the share to 7 2/-.

Dividend

Bank is not eligible to pay dividend for the financial year 2015- 16 on account of not meeting the eligibility criteria stipulated by Reserve Bank of India for this purpose.

Board of Directors (Appointment /Cessation of Directors during the year)

Appointments

Shri Ravi Venkatesan was appointed as a part time non- official director as well as non-executive Chairman by the Central Government u/s 9(3)(h) of The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980, wef 14.08.2015 for a period of 3 years or until further orders, whichever is earlier.

Shri P. S. Jayakumar was appointed as Managing Director & CEO by the Central Government u/s 9(3)(a) of The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980, w.e.f 13.10.2015 for a period of 3 years or until further orders, whichever is earlier.

Smt. Usha A. Narayanan, after scrutiny of nominations and determination of 'Fit and Proper' status, was declared elected as Shareholder Director on the Board of the Bank w.e.f. 12.12.2015.

Shri Mayank K. Mehta was appointed as Executive Director by the Central Government u/s 9(3)(a) of The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980, w.e.f 22.01.2016 up to 30.09.2018 i.e. the date of his attaining the age of superannuation or until further orders, whichever is earlier.

Cessations

Shri Ranjan Dhawan, Executive Director, ceased to be Executive Director w.e.f 1st October, 2015 on his attaining the age of superannuation from the Bank's service.

Shri K. V. Rama Moorthy, Executive Director, ceased to be Executive Director w.e.f. 29th August, 2015 on his appointment as Executive Director of United Bank of India.

Auditors' Compliance Certificate on Corporate Governance:

The Auditors Compliance Certificate regarding the compliance of the conditions of Corporate Governance for the year 2015-16 is annexed with this report pursuant to "Part "E" of Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Business Responsibility Report

Business Responsibility Report as required by SEBI has been hosted on the website of the Bank (www.bankofbaroda. co.in). Any member interested in obtaining a physical copy of the same may write to the Company Secretary of the Bank.

Directors' Responsibility Statement

The Directors confirm that in the preparation of the annual accounts for the Financial Year ended 31.03.2016:

a) the applicable accounting standards had been followed along with proper explanation relating to material departures, if any;

b) the accounting policies framed in accordance with the guidelines of Reserve Bank of India were followed and the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Bank at the end of the financial year and of the profit and loss of the Bank for that period;

c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of applicable laws to the Bank for safeguarding the assets of the Bank and for preventing and detecting fraud and other irregularities;

d) the directors had prepared the annual accounts on a going concern basis; and

e) the directors had ensured that internal financial controls followed by the Bank are in accordance with guidelines issued by Reserve Bank of India in this regard and that such internal financial controls are adequate and were operating effectively.

f) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

Acknowledgements

The Directors express their sincere thanks to the Government of India, Reserve Bank of India, Securities and Exchange Board of India, other regulatory authorities, various financial institutions, banks and correspondents in India and abroad for their valuable guidance and support.

The Directors acknowledge with appreciation the assistance and cooperation extended by all stakeholders of your Bank like customers, shareholders and well wishers in India and abroad.

The Directors place on record deep appreciation for the hard work and dedication of the members of your Bank's staff at different levels, which enabled your Bank to record consistent growth with quality year after year despite economic challenges and consolidate its position as one of the premier banks in the country.

                         For and on behalf of the Board of Directors,

                                                     P. S. Jayakumar